Bloomberg European car sales are forecast to drop by a record 25% this year after coronavirus pandemic shuttered factories ad showrooms, leading to a collapse in demand. Sales in the European Union are expected to fall to 9.6 million vehicles, from 12.8 million last year, the European Automobile Manufacturers Association said in its first forecast since January, before Covid-19 hit ...

Bloomberg Bayer AG’s $12.1 billion settlement to resolve US lawsuits over its flagship weedkiller Roundup and other products offered fleeting relief to investors looking to move on from the legal woes that have hobbled the stock for almost two years. The shares rose as much as 3.6% in Frankfurt trading after the German company’s move to resolve a trio of ...

Bloomberg US equity futures slipped, while European stocks advanced as investors studied whether a resurgence in coronavirus infections will sap appetite for riskier assets. EasyJet Plc slumped after selling more shares. Deutsche Lufthansa AG rallied as its biggest stockholder backed a government rescue package. West Texas crude oil fell below $38 a barrel. Gold continued its push towards $1,800 an ...

Bloomberg Indian stocks declined in volatile trading as investors weighed the worsening economic outlook with the novel coronavirus continuing to spread. The S&P BSE Sensex fell 0.5% to 34,695.76 in Mumbai, while the NSE Nifty 50 Index dropped 0.4% after both gauges earlier erased losses to gain as much as 0.5%. The measures are both set for their best quarter ...

Abu Dhabi / WAM Following a ceremony via video conference between Abu Dhabi and Beijing, health authorities from the UAE have announced the commencement of the world’s first phase III clinical trial of a Covid-19 inactivated vaccine. Inspired by the UAE Leadership’s vision and commitment to overcome the pandemic through a global collaborative effort, a clinical cooperation agreement was signed ...

Bloomberg Oil fell in New York after an industry report signalled another increase in US crude stockpiles, while the spread of the coronavirus continued to cloud prospects for an economic recovery. Futures dropped 1.6%, extending the decline after settling at the highest since early March on Monday. The American Petroleum Institute reported that inventories rose by 1.75 million barrels last ...

DUBAI / WAM Nasdaq Dubai on Wednesday welcomed the listing of a $500 million sukuk by Sharjah Islamic Bank (SIB). The capital raised will support SIB’s activities and strategic development to cater to its customers in corporate, investment and retail banking. In a statement on Wednesday, Nasdaq Dubai said that the five-year sukuk was subscribed 7.2 times by regional and ...

Abu Dhabi / WAM Hub71 has collaborated with two leading banks, Mashreq Bank and First Abu Dhabi Bank, to help identify and solve the pain points faced by startups. This follows the launch of Hub71’s whitepaper which explored the challenges that startups face when opening a UAE bank account. The whitepaper, titled: Rethinking Banking for Startups aims to foster collaboration ...

Abu Dhabi / WAM Thuraya, the mobile satellite services subsidiary of the UAE’s Al Yah Satellite Communications Company (Yahsat) has announced the signing of a partnership agreement with Telespazio, a joint venture between Leonardo (67 percent) and Thales (33 percent), to distribute its products and services worldwide. Telespazio customers in critical sectors such as government, maritime, energy and relief can ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB) launched FAB eSign, a new portal that provides a secure, safe and legally valid way for clients to sign documents digitally. Initially available to clients of FAB’s Global Transaction Banking (GTB) division, FAB eSign allows authorised signers to digitally sign documents anywhere and anytime, the bank said in a statement on ...